Ridgeback’s asset base offers large oil-in-place with significant long-term exploitation and optimization opportunities (~88% operated and ~70% working interest in focused core areas). Our strategy is focused on the development of these repeatable, low-risk assets creating a sustainable business which provides long-term value for our shareholders.
Ridgeback was incorporated in September 2016 to acquire substantially all of the assets and business of a mid-sized, western Canadian oil producer undergoing a corporate restructuring. Backed primarily by private equity investors, Apollo Global Management LLC & GSO Capital Partners, the transaction closed on December 29, 2016. On June 15, 2017 the current executive team was appointed, bringing significant oil and gas experience including a history of operational excellence.
Our executive team has worked together in several successful entities and are focused on developing the Company’s existing asset base, increasing the inventory of future drilling opportunities, expanding the current geographic footprint and seeking consolidation and other liquidity opportunities.